Lloyd’s Register and GNPC Operating Services Company (GOSCO) have signed an agreement to form a joint venture to provide well project management, well engineering and associated site survey, geotechnical and rig inspection services in the Republic of Ghana.
The newly formed joint venture company, known as Lloyd’s Register Wells Ghana Limited, will provide engineering, operations, risk management and performance solutions to support operators deliver safe, cost-effective and compliant E&P activity.
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The joint venture will operate as an indigenous Ghanaian company with its base in Accra, the capital of Ghana.
Lloyd’s Register well business vice president Matt Rothnie said: “We have joined forces with GOSCO to set up this joint venture as a response to growing industry interest in Ghana’s oil and gas potential, along with the requirement to build capability in the Ghanaian E&P sector.
“This move is another example of Lloyd’s Register’s strategy to work in partnership with local oil and gas players to benefit from their local experience, whilst providing the benefit of Lloyd’s Register’s global knowledge and technical expertise.”
The discoveries of new oil and gas resources in Ghana have recently fuelled increasing interests, both among local and international players. The discovery of oil in commercial quantities also requires a strong regulatory framework and institutional capacity for effective management and monitoring of this sector.
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By GlobalDataRothnie added: “We believe this joint venture will create good long-term opportunities for Ghana’s E&P industry as we look to collectively achieve the highest levels of safety and performance providing the very latest ‘know-how’ and application of technology for well operations.”
GOSCO CFO Michael Amoah said: “We are very pleased to have formed our joint venture with Lloyds Register; we see real opportunities in key aspects of the upstream value chain for joint ventures, which bring together the operational experience of Ghanaian companies with the niche high-quality skills of an international partner.”
The Government of Scotland’s Scottish Development International assisted Lloyd’s Register in the joint venture development.
